Technical Analysis
STI Analysis — the next peak and trough ? (XIV)
By ccloh Strategic Investor Zone  •  May 31, 2018
Continued from STI Analysis -- the next peak and trough ? (XIII) Finally, the drop to today possible intra-day low of 3437.12 hit the 61.8% Fibonacci Retracement level for the Intermediate degree Wave 5 Minor degree Wave 2 correction, a very typical level for wave 2 correction.  As such, a double-three combination of Expanded Flat - Zigzag looks to play out for this correction.  Can it still go lower ?  Well there is a possibility to hit the 78.8% Fibonacci level at 3395 given the uncertainty global stock markets are facing now.  However, keep a look out for the turnaround too.  Once the correction is over, it will be the Intermediate degree Wave 5 Minor degree Wave 3, the one that should break the 2007 high ......
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By ccloh Strategic Investor Zone
Am a typical retail investor who started investing in stock market in 1993, the same length of period as SingTel was listed in SGX and ironically SingTel was my first vested stock. Back then was a passive investor and started to turn more active in stock market in 2006. A year later when I switched my engineering job to a finance related one, I became what commonly known as trader ( trade for living ) and at the same time also strongly believe in fundamental/value investing that is the way to growth wealth. In a way I classify myself as a "Strategic Investor". As a trader, I track market movement daily and as an value investor, I am always on the lookout for cheap bargain to hold for long term.
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